Sensing a trend in the industry, DePaul University’s
Department of Finance has developed a new in-depth graduate program to train
those in the wealth management industry to better cater to their clients. The
master’s degree allows financial professionals to delve further into every
aspect of the financial-planning process to meet the expanding demand for
personalized financial advice.
“Wealth management has emerged as a discipline that requires
a more sophisticated grasp of not only financial products and strategies, but
also the human side of addressing the needs of the affluent,” says Bill Obenshain, executive director of
DePaul’s Center for Financial Services. The program grew out of discussions and
focus groups with members of local wealth management firms, who also weighed in
on the curriculum.
of Science in Wealth Management degree is a designed to teach
students the skills needed to help others achieve their individual and family
financial goals in a complex legal and economic environment. “There is a mix of
talents needed for the wealth management industry, both technical skills and
softer skills," says Daniel Deli, the degree’s academic director and an assistant professor of finance. "Often people are strong in one dimension or the other but not balanced,
so that’s what we’re after: training the well-rounded wealth manager."
Some schools across the nation offer an undergraduate
financial planning degree, and there are certificate programs for refreshing financial
skills, but Deli believes DePaul’s new degree stands on its own. “Certainly in
Chicago there’s nothing like this,” he says. The program fills a gap between
degrees that are too narrow (Certified Financial Planner programs) or too broad
(MBAs in finance or management), he says.
The two-year degree has 12 required courses and no
electives. Courses cover topics ranging from the psychology of financial
decision making to ethics in financial markets to risk management and tax and
estate planning. Because each course is offered only once a year, the program
does not yet have rolling admission.
“Each course is specifically there to address a particular
part of the wealth management industry,” Deli explains. “This is not a general
money management degree. Students will be drawn to the program for the depth of
understanding that they get.”
To learn more about the M.S. in Wealth Management or apply
for fall 2014, contact the Kellstadt Graduate School of Business at
(312) 362-8810 or email@example.com or visit the Department
of Finance website. There is also an online
brochure and slide